While %InsertSelect is a great tool, it's always had one drawback: It leaves out long character fields. If the table you're inserting into has long fields that need to be populated, you need to find another solution.
Turns out there is another solution. It's not clear to me when it was introduced, but %InsertSelect has a partner in crime: %InsertSelectWithLongs. It does exactly what you think, it includes longs in the field lists.
It doesn't show up in the PeopleBooks for 8.48 or 8.49, though it does make an appearance in 8.50. I found it while googling. The folks over at Salibury University (the fightin' Sea Gulls, as it turns out) posted a PeopleTools 8.49 PeopleBooks Issues and Corrections doc which states that the handy meta-sql had been left out. I verified it works on PeopleTools 8.48.